Toronto-based cannabis producer The Flowr Corp. entered into a definitive agreement to acquire Terrace Global, a Canadian company focused on the development of international marijuana assets.

The all-share transaction, expected to close by the end of the year, is worth about 63 million Canadian dollars ($48 million), Flowr said in a news release.

Flowr CEO Vinay Tolia said the deal will “deepen our existing relationship and partnership with Terrace Global into a full combination of the two companies.

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